On the EUR.USD 1hr chart we have a potential short opportunity at the D leg completion of bearish Bat setup.
The price reversal zone on this pair is between 1.0678 & 1.0688 The PRZ zone is only a guideline of where we will be paying attention for trade setups and opportunity's.
Potential targets for the Bat setup placed at the .382% and .618% retracement of the C to D move. There is also an opportunity to look for extended targets at around 1.0580 Stop loss would be placed above X leg structure resistance.
Target 1 - 1.0636 Target 2 - 1.0610
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Target 1 attained if you entered at the D leg. I personally didn't take this position.
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We are likely to find support and see consolidation in the coming hours.
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Target 2 attained if you entered at the D leg 1.0678
@morshedul.sazid, Thanks very much for the comment.
Pipgroove
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Tom, great work! This bearish bat idea worked out well. I was just too late to get into it. I'm long already working on following a bearish three drive formation. If everything goes well my long target around 1.0950 area.
UnknownUnicorn180388
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@Pipgroove, Thanks very much,
I hope all goes well with your current position.
rakefree
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Could you please share your RSI settings? Thanks as always :)